Level I

Buyback does not distort the free cash flow?

Could anybody help with a question on page 594 of the third book?

Why is stock bought back on the open market least likely to cause a distortion in the true free cash flow of a company assuming that a large stock buyback has taken place to offset the dilutions from options excercised?

Thanks! Continue reading

FinQuiz Mock

Has anyone used FinQuiz and taken their mocks? I just bought them today since I have done all the Kaplan exams and I feel like they are garbage. I have been scoring 72-80 on the Kaplan tests but just took a FinQuiz mock and got a 44. I always feel that harder is better because it really tests you but the material just seems really random and obscure, not even mentioning the fact that the sentances are so poorly written it is hard to read. 

Am I actually hurting myself by taking time to do and review these tests? Does anyone have experience with their level one mocks? Continue reading

Schweser Mock Exams Vol.2

I am running out of mocks (only one left from CFAI the candidates ressources). Is it worth it to spend $150 for the vol.2? Or would I be better off re-studying and re-doing the questions I have already done until now Continue reading

Improving? Constantly getting 74% average on 3 schweser mocks...

Hi 

I’m constantly getting an average of 74% over 3 full schweser mock exams. After each session I go over the wrong answers thoroughly, understanding the concepts I missed that time. However, even with answer checkings,  I keep getting 74% whenever I take a full new test. The score is not improving.

I’m thinking of two options till the exam.

1. Review the whole schweser books quickly to solidify the concepts.
2. Keep doing the rest of the mocks (and even attempt CFA mocks) until the exam. Continue reading

Downside of failing L1

So, recently I ran into some family issues and probably won’t have time to prepare for CFA L1 exam on Dec but it’s too late to withdraw now, so I have to take it. My question is, are there any downsides to failing L1 the first time? Most importantly, will this be a potential issue for future employers etc.? Continue reading

CFAI Mock Exam

Dears,

What is the appropriate time to take CFAI mock exam, am planning to take it 5 days before the Real exam, what do you think??  Continue reading

TVM question

I stumbled on the following yesterday:

“An investor wants to receive $10,000 annually for ten years with the first payment five years from today. If the investor can earn 14% annual return, the amount that she will have to invest today is:

A. $27,091

B. $30,884

C. $52,161”

I believe the answer is A, since you discount the first PV of 52,161 to 1.14^5 (5 years from now). However they discounted to 1.14^4 and I do not see why.

Anyone can help? Continue reading

Retaking CFA Mocks Allowed?

i don’t want to do a CFAI mock and then come to realize i can’t take it over again down the road couple of days from now. Are we able to retake the CFAI Mock? and Schwere’s Mock??? over  Continue reading

T-Bills or Bonds for Risk-free CAPM

I was kind of upset when I came across a mock question I got wrong because I used the 3 month T-Bill rate (3%) instead of the 10-year T-bond rate (3.5%).  I was upset b/c in all the reading and notes I’ve done on this stuff I don’t recall anything about one being preferred to the other, and if these are the types of questions CFA will be asking on the exam, I’d be a bit disappointed.  So can someone direct me to where this is specified in the curriculum?  Maybe it’s everywhere and I’m just blind, I’m mentally drained!

Continue reading

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